New World Gold Corporation Establishes Chain of Custody in Transaction to Verify South Dakota Claim

Rhea-AI Summary

New World Gold Corporation (OTC PINK:NWGC) has provided updates regarding its interest in a 160-acre placer claim in Pennington County, South Dakota. In previous communications, the company noted that the claim lies on federal land and mineral rights would be licensed through its subsidiary, Rock Creek Mining & Exploration Co. However, on July 14, Burgex Mining Consultants terminated their engagement for soil sampling and has issued a full refund. NWGC is now seeking other local mining consultants to proceed with the project.

Positive

• Engagement with Burgex Mining for soil sampling and exploration activities in South Dakota.
• Identified a new 160-acre placer claim that could enhance company assets.

Negative

• Burgex Mining Consultants canceled their engagement for soil sampling.
• The company needs to find new consultants after the cancellation.

NORTH PALM BEACH, FL / ACCESSWIRE / July 16, 2021 / New World Gold Corporation, (OTC PINK:NWGC), 'the Company' shares additional information from recent press releases.

On June 18th 2021, a press release was issued in regards to the NWGC/RCM interest in a 160 acre placer claim in Pennington County, South Dakota. The press release stated the following: "In addition to the Nevada Property, the Company, has identified another 160 Acre Placer Claim in the South West corner of South Dakota; which centrally intersects 3 small tributaries, and is located in Pennington County at GPS Lat./ Long. Coordinates: 43.9847°N 103.8563°W. The property is on Federal Land and Mineral rights would be licensed through the wholly-owned subsidiary Rock Creek Mining & Exploration Co. 'RCM'; Burgex Mining Consultants have been contacted in regards to the Company's intentions."

On June 4^th, 2021 RCM was in receipt of an email from Bill Schneiders, a Burgex Mining Consultant employee, and in that email was an estimate for services to be provided at the Pennington County, South Dakota claim highlighted in Exhibit A / Burgex Invoice.

Shortly after, a Huntington National Bank Cashier's check (Check number 2014698139) dated the 21st of June 2021 was sent via overnight / express shipping to the attention of Crystal Burgess and was confirmed received. You may find a copy of this check attached as Exhibit B / check Image

On June 25th, 2021 the company released a PR in which New World Gold Stated "The property is on Federal Land and Mineral rights would be licensed through the wholly owned subsidiary Rock Creek Mining & Exploration Co. 'RCM'; Burgex Mining Consultants have been retained to begin soil sampling in the coming weeks. The use of Burgex would include the staking and recording of 'RCM' claim rights, aerial surveys and XRF Readings for future exploratory sampling."

On July 14th 2021, Burgex Mining Consultants informed the company they were canceling the engagement as stated in Exhibit A regarding the Pennington County, South Dakota Claim; and refunding the payment to the Company in full. New World Gold and Rock Creek would like to wish Burgex Mining all the best in their future endeavors.

The Company has sent out emails in an attempt to contact other mining consultant companies that are local to the area and we are presently awaiting a response.

CONTACT:
Twitter: Twitter.com/NewWorldGoldCo
Email: info@newworldgoldcorporation.com
Address: 801 US Highway 1North Palm Beach, FL 33408

Forward Looking Statements:

This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE: New World Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/655827/New-World-Gold-Corporation-Establishes-Chain-of-Custody-in-Transaction-to-Verify-South-Dakota-Claim

FAQ

What is the latest update from New World Gold Corporation regarding the South Dakota claim?

New World Gold Corporation has reported that Burgex Mining Consultants canceled their engagement for the South Dakota placer claim and issued a full refund.

What is the significance of the 160-acre placer claim in South Dakota for NWGC?

The 160-acre placer claim in South Dakota represents a potential asset for NWGC, as it is on federal land and mineral rights would be licensed through its subsidiary.

What steps is NWGC taking after the cancellation by Burgex Mining Consultants?

After the cancellation, NWGC is actively seeking other local mining consultants to continue with exploration and soil sampling for the South Dakota claim.

When was the press release about NWGC's South Dakota claim issued?

The latest press release regarding NWGC's South Dakota claim was issued on July 16, 2021.

What was the original purpose of engaging Burgex Mining Consultants?

Burgex Mining Consultants were retained to conduct soil sampling, staking, and aerial surveys for the South Dakota claim.